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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Liquidator Sets Deadline for LLP Creditors to Prove Claims Under Rule 138; Minimum 14-Day Notice Required.</h1> In the context of winding up a Limited Liability Partnership (LLP), the Liquidator, under Tribunal supervision or voluntarily, must designate a deadline for creditors to prove their debts or claims. This date must be at least fourteen days after notifying creditors, as stipulated in Rule 138. Creditors must establish their claims or priority rights by this deadline to participate in distributions or to object to them. Failure to do so may result in exclusion from benefits or the inability to contest distributions made before their claims are validated.
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